PRESS RELEASE: GM Reaches Agreement to Sell Saab to Spyker
DETROIT -- General Motors and Spyker Cars NV today confirmed that they have reached a binding agreement on the purchase of Saab Automobile AB. "Today's announcement is great news for Saab employees, dealers and suppliers, great news for millions of Saab customers and fans worldwide, and great news for GM,” said John Smith, GM vice president for corporate planning and alliances. “General Motors, Spyker Cars, and the Swedish government worked very hard and creatively for a deal that would secure a sustainable future for this unique and iconic brand, and we're all happy for the positive outcome,” Smith said.

General Motors on Thursday named global engineering chief Karl-Friedrich Stracke to replace Nick Reilly as CEO of its money-losing Opel/Vauxhall unit, effective April 1. Stracke will report to Reilly, 61, who continues as the head of GM's European operations and will be nominated to chair the Opel supervisory board. Stracke, a German native, has led GM's global vehicle engineering operations for the past 15 months.

RM Auctions took a break from its Arizona dealings to drop a release about its upcoming Monaco event featuring 100 classic and rare Ducati motorcycles. The Saltarelli Collection will be on sale at the Grimaldi Forum Monaco, May 10-12, in Monte Carlo. Alongside the Saltarelli Collection, Ducati will offer a selection of classic motorcycles from its factory and museum.